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Results: 1-10 of 97

SEC and NAIC take affirmative steps to address corporate disclosures regarding climate change
  • Locke Lord LLP
  • USA
  • October 27 2009

On October 2, 2009, as part of the 48th Annual Corporate Counsel Institute held at Northwestern University School of Law, SEC Commissioner Elisse B. Walter gave a speech entitled “SEC Rulemaking ‘Advancing The Law’ To Protect Investors.”


SEC proposes roadmap to adoption of IFRS accounting for U.S. companies
  • Locke Lord LLP
  • USA
  • September 19 2008

On August 27, 2008, the Securities and Exchange Commission (SEC) unanimously approved release of a proposed roadmap for the mandatory adoption of International Financial Reporting Standards (IFRS) by U.S. public companies as early as 2014


S.D.N.Y. dismissal in Amex indicates how courts should analyze suits spawned by credit crisis
  • Locke Lord LLP
  • USA
  • October 1 2008

The United States District Court for the Southern District of New York recently dismissed for a second time a federal securities class action against American Express Co. (“Amex”


The Brocade trial: Judge Breyer may take case away from jury
  • Locke Lord LLP
  • USA
  • July 9 2007

The first criminal trial of stock options backdating conduct may end with the court finding that government prosecutors failed to present sufficient evidence of intent to support a conviction


The Brocade trial: an important defense gets in the door
  • Locke Lord LLP
  • USA
  • July 3 2007

Until last Friday, Greg Reyes, Brocade's former CEO, had been unable raise an important aspect of his defense: Brocade was only one of many companies that allegedly manipulated stock options grants


Merrill Lynch subprime-related shareholder derivative action dismissed
  • Locke Lord LLP
  • USA
  • March 2 2009

On February 17, 2009, the US District Court for the Southern District of New York dismissed, without prejudice, a shareholder derivative action pending against Merrill Lynch's directors and officers alleging breach of fiduciary and waste of corporate assets in connection with Merrill Lynch's exposure to subprime debt


Federal Appeals Court: shareholders can sue financial advisers in state court under Delaware carve-out of Securities Litigation Uniform Standards Act (SLUSA)
  • Locke Lord LLP
  • USA
  • March 3 2009

On February 12, 2009, the U.S. Court of Appeals for the Ninth Circuit held that shareholders of St. Joseph Medical Corp. (“St. Joseph”) could bring a securities class action against Cowen & Company (“Cowen”), an investment bank, in California state court under the Delaware carve-out of SLUSA for poor advice provided during the merger of the closely-held corporation with FPA Medical Management (“FPA”), a publicly-held company


Second Brocade executive convicted in backdating prosecution
  • Locke Lord LLP
  • USA
  • December 7 2007

On December 5, 2007, following a 5 12 day trial in the U.S. District Court for the Northern District of California, a jury convicted Brocade's former head of human resources, Stephanie Jensen, of falsifying corporate records and conspiracy


Delaware Court of Chancery orders disclosure of special committee communications with counsel
  • Locke Lord LLP
  • USA
  • December 20 2007

In a seemingly routine discovery order issued in the Maxim stock-option backdating case, the Delaware Court of Chancery issued a decision that could have major ramifications for special committee practice


Supreme Court rules against investors to limit shareholder suits
  • Locke Lord LLP
  • USA
  • January 15 2008

In a highly anticipated decision issued this morning, the U.S. Supreme Court upheld the dismissal of a shareholder lawsuit where the plaintiffs failed to establish reliance on any statements made by the defendants